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ICON Newsletter #32 - ICON 2.0: Batang - The Foundation for the Future

ICON Newsletter #32 - ICON 2.0: Batang - The Foundation for the Future
By ICON Newsletter • Issue #32 • View online
Greeting ICONists,
Two weeks ago, we announced ICON 2.0, a.k.a Batang, a brand new software that uses an enhanced and completely rewritten blockchain engine: ‘Goloop.’ A little background about the word ‘Batang’: Batang is a common Korean word meaning “foundation” or “base,” and we think it is a perfect fit for the next phase of ICON’s growth.
For the past year, we have been developing this new technology, and it’s one of our most important achievements to date. Batang provides an improved blockchain experience over the existing Python-based loopchain. It is a 1) faster, 2) more stable, and 3) scalable high-performance blockchain that completely overhauls the ICON mainnet that launched in 2018. 
What is even more exciting for the community is that at launch, ICON 2.0 will come standard with interoperability features to support and power cross-chain DeFi solutions. We are always building for the future and look forward to driving innovation in the space.

1/ Today, we are excited to announce our next significant technical advancement - ICON 2.0: BATANG, a new blockchain software architecture based on Go $ICX
ICON 2.0: Introducing a new blockchain software architecture based on Go | Medium
Stay tuned for additional information and discussion around these developments, and please join in the conversations at
Key Highlights:
  • ~60% of the circulating supply is staked vs. 38.4% at the end of 2019. We continue to believe this shows long term confidence in $ICX.
  • Austrian gin maker, The Stin, to use ICON Network to guarantee bottles’ rarity. Check out the Cointelegraph article highlighting this great initiative by Block42.
  • ICON announces strategic partnership with Conflux Network to expand our respective ecosystems and tap into the growing decentralized finance (DeFi) space.
  • ICON Hyperhack concludes! Check out the winners here.
  • Henry Lee, Head of Strategy at ICONLOOP and Min Kim, Founder of ICON project discuss decentralized identity at an AMCHAM Webinar (The American Chamber of Commerce in Korea is one of the leading cross-border business organizations in Korea).

Min Kim
ICON Foundation Council Member
The Stin distillery to leverage ICON Network
ICYMI: The Stin, an Austrian-based gin distiller, is set to use ICON (ICX) to transparently track its supply chain.
block42 will be combining near-field communication (NFC) technology with the ICON blockchain to maximize the security of the tracking system.
NFC chips and devices function as electronic identity documents and keycards and are currently used in contactless payment systems and mobile payments services that replace credit cards.
For The Stin’s supply chain, block42 will be fitting 999 bottles of the distiller’s limited-edition gin with crypto-enabled NFC chips. These enable consumers to scan the bottles in order to check their authenticity and track the total number of bottles still available in the limited edition series.
ICON Hyperhack Announces Winners
ICON Hyperhack was a 2 month online hackathon that opened registrations and submissions on June 19th and lasted until September 14th. The hackathon reached over 450 participants with 13 new projects completed.
Check out the winners from the individual categories: DeFi, utility and NFT/Gaming. They can be found here. We cant wait to see the progress to come!
ICONLOOP strengthens its leading market positionon
Not a week goes by without a new and exciting development in Korea with ICONLOOP’s progress. The past two weeks included announced MoU’s with Danal/Paycoin, a leading payments company, and Pohang City, POSCO, & POSTECH.
Danal is a global giant with over $5 Billion in market share, the largest in the mobile payment industry with 100K+ merchants. Their fintech project, Paycoin, will integrate ICONLOOP’s blockchain & MyID. Additionally, ICONLOOP and Danal/Paycoin will explore future collaboration opportunities.
ICONLOOP and Pohang City-POSCO-POSTECH signed an MoU to build a Pohang data ecosystem. ICONLOOP plans to cooperate to create a digital ID ecosystem in Pohang City based on MyID, and aims to create a practical smart citizen life with the use of blockchain technology. Pohang is a city of 500,000, POSCO was the largest steel manufacturer in the world (currently 4th) & POSTECH is the Caltech of Korea!
Signed MOU with ICONLOOP and Pohang City-POSCO-POSTECH to build Pohang data ecosystem

ICONLOOP plans to cooperate to create a digital ID ecosystem in Pohang City based on MyID, and aims to create a practical smart citizen life.
Additionally, we were able to get a sneak peek of the progress thus far with the Jeju Island COVID-19 tracing program. As it stands, over 100 businesses (60 provincial offices and 44 private companies) are participating in the pilot. Check out more details below.
Pilot operation of 'Jeju-type tourism quarantine system' in over 100 businesses (the provincial 60 offices and private 44 companies) and provincial offices in Jeju​

It will be expanded to all of the provincial businesses after this pilot operation and checking the stability.
ICON Foundation strikes partnership with Conflux
Not to be outdone by all the ICONLOOP news, ICON Foundation struck a partnership with Conflux Network. Conflux Network, a state-endorsed public, permissionless blockchain project out of China, announced a strategic technical partnership of its cross-chain protocol with ICON Foundation.
In the era of DeFi and with the growth of public blockchain interest in Korea and China, we believe this is an important strategic partnership to drive growth in our respective regions. We look forward to sharing more details as we progress!
Stay tuned!
We are very excited to announce our strategic partnership with @Conflux_Network to expand our respective ecosystems and tap into the growing decentralized finance (DeFi) space. We look forward to sharing more integration details soon! $ICX 🇰🇷🚀
Other ecosystem highlights

"Being an ex banker at the time, I thought to myself, this is going to change my work, this is going to change my industry. Now I'm really seeing it happen in production." @benny_options @BalancedDAO
@crypto1618 We're adding betting with ICX in ZenSports on October 6th!
ShinhanBank gave a speech for its blockchain strategy yesterday.

“Zzeung is the first financial DID service with Shinhan Bank, and plans to use DID more in the future. It will be used for integrated certification of Shinhan Group affiliates”
Wendy O (Watch
So excited for my upcoming podcast with @RickyLeeDodds Strategy and Communications lead at ICON.

We will be chatting about all things $ICX, Staking, Mass Adoption, Marketing and #ICON as an investment.

Coming Soon!
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